Northwestern Mutual Wealth Management Co. Grows Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Northwestern Mutual Wealth Management Co. raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 43.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,555 shares of the information technology service provider’s stock after purchasing an additional 6,838 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cognizant Technology Solutions were worth $1,534,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the second quarter valued at $25,000. LRI Investments LLC acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at about $28,000. Benjamin Edwards Inc. lifted its stake in shares of Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $40,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Cognizant Technology Solutions during the 2nd quarter worth approximately $40,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

CTSH opened at $77.14 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year high of $80.27. The company has a 50-day moving average of $75.89 and a 200-day moving average of $71.40. The company has a market capitalization of $38.35 billion, a P/E ratio of 18.54, a PEG ratio of 2.14 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the company earned $1.10 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down .7% on a year-over-year basis. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTSH. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Robert W. Baird increased their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. Finally, StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $77.44.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.